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Cognizant signs R&D pact with Invensys Rail
IT, consulting and business process outsourcing services company, Cognizant Technology Solutions, on Wednesday signed an initial five-year, multi-million contract with UK-based railway control and communications systems provider Invensys Rail to serve the global product research and development (R&D) needs of its group companies located in the UK, Australia, Spain and the US.

Kingfisher to raise $600 mn, mostly to pay off debt
Kingfisher Airlines is planning to raise around $600 million worth of funds in the current financial year to pay off its debt and strengthen its bottom line, in the backdrop of a turbulent time for the country’s aviation industry.

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Cost cutting actions hurting employee morale, commitment
The cost cutting measures taken by companies to tackle economic crisis, have sharply eroded morale and commitment of their employees, especially of the top performers, a study by Watson Wyatt says.
Small Business

Pyramid Saimira net profit at Rs 6 cr

Pyramid Saimira Theatre today reported a net profit of Rs 5.77 crore for the quarter ended September 30, 2009, while it had a net loss of Rs 3.11 crore in the same period last year. - Tata Steel net dips 50% to Rs 903 cr - GMR Infra net dips 40%; to raise Rs 1,000 cr - United Spirits Q2 net down 25% at Rs 69 cr - Wipro Q2 consolidated net up 19% at Rs 1,161 cr - Idea Cellular Q2 net profit at Rs 220 crore - Sona Koyo Steering Q2 net at Rs 3.71 crore Income declined to Rs 57.32 crore in the latest quarter ended September from Rs 245.56 crore in the same quarter previous fiscal, Pyramid Saimira Theatre said in a filing to the Bombay Stock Exchange. The above results are on standalone basis of the company and do not contain the results of any of the subsidiaries and associate companies, the filing added. The company has diluted its combined stake in its production company, Pyramid Saimira Production International Limited (PSPIL), to 39.86 per cent from 79.73 per cent as part of restructuring of business, it said. Shares of Pyramid Saimira Theatre were trading at Rs 24.25 on the BSE, down 0.82 per cent from previous close.


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